TAIPEI (Taiwan News) — National Central University said in a Friday (Sept. 27) press release Taiwan’s consumer confidence index (CCI) was 77.84 in September, marking five months of growth.
Professor Wu Dachrahn (吳大任) from NCU’s Research Center for Taiwan Economic Development said domestic demand remains stable, with the service sector performing well, per CNA. Labor shortages in some industries are also driving up wage levels.
In this environment, people have a positive outlook on the economy, and increased income helps to alleviate the pressure from rising prices, the professor explained.
However, Wu cautioned that Taiwan’s reliance on exports to the US continues to grow. The Federal Reserve’s decision in September to cut interest rates by 0.5 percentage points indicates concerns about the US economy, which could potentially impact Taiwan's exports.
Additionally, Wu said in September, Taiwan’s Central Bank decided to implement the seventh wave of selective credit controls, along with raising reserve requirements, considered the most stringent regulation to date. However, indicators related to housing market confidence did not decline in September.
NCU’s CCI is calculated from six sub-indicators:
- Price levels
- Family economic conditions
- Domestic economic outlook
- Job opportunities
- Purchasing durable goods
- Price levels over the next six months